Archive for October, 2009


Friday, October 30th, 2009

A Vital Entrepreneurial Skill That Can Save Your Business and Your Sanity

entrepreneurial skillWe recently received a comment from a business owner who is so busy on production, he doesn’t have time for paperwork, organizing, and so on. I know how that feels: business is great, but getting up in the morning is no longer an exciting proposition when you have to face the backlog from Hades. Getting administrative duties under control is a vital make/break entrepreneurial skill. But, how do you do it?

The person who commented on the blog post wondered if he should just take a week off to get everything caught up. I wouldn’t suggest closing down the business for a week, but it’s not a bad idea to take a weekend and devote it to getting those things done.

However, you might be able to handle it by taking the least busy hour of the day – or even getting up an hour early or staying an hour late – and focusing on nothing else. And I mean nothing – doing things without interruption makes the world of difference. Once you get started, you can make a realistic assessment of what it will take and schedule from there.

Whichever way you choose to catch up, scheduling your day so it includes time for this and other activities, is a vital entrepreneurial skill. Even if it’s only half an hour, it has to happen every day.

And that half hour is sacrosanct. You absolutely cannot adopt the attitude that ‘it’s only paperwork.’ Not only will you lose business, and sleep, it can get so overwhelming you no longer enjoy your job and might even want to quit the business. Backlogs can make you feel your life is in shambles, directionless. It’s a BIG deal – try catching up on everything and you’ll see for yourself.

When you’re done, reward yourself by exercising another vital entrepreneurial skill – loafing, in whatever way floats your boat. I can guarantee you’ll enjoy it more than you would have had you left that backlog unhandled.

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Thursday, October 29th, 2009

Entrepreneurial Skills and the Power of Interruption

Achieve SuccessI read a study a while ago about how long people take to get back to work after they’ve been interrupted. The results were quite amazing, and it really brought home the power of interruptions and the vital necessity to avoid them if you want to achieve success. In fact, organizing in a way that prevents interruptions is a pivotal entrepreneurial skill.

The study was conducted on people working in a corporate environment. On average, per the study, people are interrupted 15 times during their 8-hour workday and, each time, it takes them an average of 20 minutes to get back into the swing of things. An interruption may only take 5 minutes, but if you are on a roll, in the middle of a train of thought, it takes time to get that roll going again.

Based on those numbers, people work an average of 5 hours in their 8-hour day. So if you find yourself wondering “where did the time go” at the end of your day, there’s your answer. And there’s no way you’re going to achieve success under those conditions.

Cutting down on interruptions is pretty easy if you’re working at home or in a work environment you can control:

-Set appointments for in-person or phone meetings rather than having people drop in or call whenever, or ‘tomorrow.’

-Schedule appointments in such a way that you have long stretches in which you can get other work done.

-Exercise personal discipline so distractions don’t pull you away.

-Work in a space where you can close the door.

    If you’re in a large office, or you’re not the boss, get with the powers that be and see what kind of policy changes can be made. Which takes a different set of entrepreneurial skills – but that’s another story.

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    Wednesday, October 28th, 2009

    The Built-In Entrepreneurial Skill That Sets Gen Y Apart

    young entrepreneursI was just reading 30 Under 30; America’s Coolest Young Entrepreneurs and saw the story of M3 Girl Designs. In addition to coming up with a great product idea, one of the chief entrepreneurial skills used by the company’s 13-year-old founder, Maddie Bradshaw, was the ability to build and rally a team – which is very Gen Y, and something at which Gen Y excels.

    Who is the team? The 3 in M3 Girl Designs are Maddie Bradshaw, the founder, president and head designer, her Mom, who gave Maddie an okay to spend $300 she’d saved from birthday and tooth fairy money to get the business started, and Margot, Maddie’s 9-year-old sister, the company’s vice president and assistant designer.

    Are you impressed yet?

    Read 30 Under 30 to find out about some other inspired Gen Y’ers, and get inspired yourself.

    And keep an eye on your kids. Do they have good ideas? Are they exhibiting inherent entrepreneurial skills?

    Cost of starting Maddie’s company            = $300
    Value of Maddie’s company today            = $1.6 million
    How Maddie feels about her accomplishment        = Priceless

    Support Entrepreneurs!

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    Tuesday, October 27th, 2009

    Your Entrepreneurial Skills Have Ten More Years to Work for You

    40 is the new 30’40 is the new 30’. Like me, you may have heard that expression a lot over the last few years. What does it mean? From a financial viewpoint, it means our money has to last ten years longer, but we also have ten extra years to make it. It also means we have ten extra years to apply our entrepreneurial skills to whatever makes us happy.

    The expression also has a scientific explanation. It’s a different way of looking at age – it’s not how long you’ve lived, it’s how long you’ve got left. As our expected life span gets longer, ‘middle age’ happens later; some say we are therefore in the same cycle of life at 40 that our parents were in at 30. And as our life span is supposed to continue to increase, middle age is coming later and later. Expected life span is different from country to country but in Germany, for example, scientists say that by 2050, middle age (for Germans) will begin around age 52.

    There’s one more way to look at ’40 is the new 30’, and it’s all about attitude. It’s feeling younger as you get older. It’s feeling that you still have a long time left to enjoy life, no matter how old you are. It’s feeling that it’s never too late to put your entrepreneurial skills to work for you and take another big bite out of the apple.

    That’s my favorite interpretation.

    If you get out of bed some mornings feeling old, remember this: scientifically speaking, you’re actually ten years younger. Then have a good day.

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    Monday, October 26th, 2009

    Entrepreneurial Skills Must Include Being Able to Identify Opponents

    Entrepreneurial skillsGames consist of two teams – yours, and the opposition. But sometimes we find opponents on our own team. And sometimes we become our own opponents.

    You’ve probably run into this phenomenon: you think everyone’s on board and with the program, and you think you’re doing all the right things. Nevertheless, you find yourself continually blocked in your efforts to achieve your goals. There could be all kinds of reasons for it, some of them are even understandable, but they seem to go on and on. It’s just one thing after another.

    There’s a good chance you’re running into unidentified opponents.

    Sometimes the opposition has an internal source – lack of confidence or some other personal aspect that seems to be working against you – and sometimes the source is external – someone you’re working with isn’t really with the program, and may even be working against you.

    Entrepreneurial skills training helps eliminate our ‘inner opponents,’ but a vital part of achieving success involves identifying those who seem to be team members but aren’t really on the team. Benign or aggressive, they are opponents in that they’re not really part of the push forward.

    If you’re having trouble in your quest to achieve success and feel like you’re up against a brick wall, have a close look at your associates. And have a talk with them to verify that you’re on the same page. Are they really on board? If not, you either have to resolve the disagreements or differences or go your separate ways.

    Life is too short to spend a lot of time trying to get team members up to the point of being willing to play. There are plenty of people who don’t take convincing – they want to play the game. And win.

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    Friday, October 23rd, 2009

    Achieving Success is an Empty Experience When We Destroy Others in the Process

    Achieving successWow. Not a very literate comment, I admit, but I still think the new Global Economic Ethic Manifesto deserves a ‘Wow.’ Achieving success, for many, is an empty experience when we have to shove other people down the ladder for us to make the upward climb. Unfortunately, not everyone feels the same.

    Some think there was no predicting the economic mess we’re in, that it was all accidental and just as much a surprise to industry leaders as it was to the millions who lost their homes, their jobs, their savings, their retirement plans, and so on.

    But documentation abounds (check some of the Wikipedia references for specifics) that proves the existence of several warning signs – they’ve been staring us in the face for years – which were ignored by the powers that be, many of whom were bailed out by the government (and our tax dollars) while the man on the street bore the brunt of the catastrophic results.

    That’s why we’re our current economic mess, and why we need a set of global guidelines which, if followed, will ensure that everyone who uses their entrepreneurial skills has a fighting chance at achieving success. The Manifesto, written by a working committee of the Global Ethic Foundation, is just that.

    Will the Manifesto be followed? Greed has become a way of life for the big guys. They may be too far gone to rise to the occasion, especially when they’re simply bailed out when their world caves in around them.

    But that doesn’t stop the rest of us from supporting the Manifesto and adopting the guidelines for our own business activities and insisting that those we deal with do the same. Check it out, live by it, and your personal success will also bring you happiness.

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    Thursday, October 22nd, 2009

    Achieving Success – If You Can Imagine It, You Can Do It

    Achieving successDid you attend the Sovereignty Live event in Puerto Rico? Did you hear and meet the speakers? Crossing the Sahara; surviving for three weeks in the Amazon, lost without fire, food, or weapons; traveling 27,000 miles, a nine-month trip, alone, on a yacht – that’s the kind of experience that makes you believe you can do anything. And that’s the kind of spirit behind achieving success.

    Audiences hearing about experiences like this are in awe; they wonder how the speakers ever got through it. But, the truth is, you would probably have survived it, too. If you’re reading this blog – which means you’re either an entrepreneur right now and believe in your independent future, or you’re looking at and open to the possibilities and considering taking the chance – then you can do it.

    Yes, there are probably people who can’t. But, believe me, there’s not a chance in hell that someone who can’t do it will ever find themselves in the Amazon. In fact, I would bet they’d never be reading this blog.

    But if you can see it, if you can imagine it, if you can think it, if you can feel it – you can do it. You just need the right entrepreneurial skills. Believe that. And, if you want to change your life, run with it – all the way to the bank, or whatever scenario is your heart’s desire, whatever ‘achieving success’ means to you. Maybe you just want the time to take that 27,000 mile sail. I could go for that.

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    Wednesday, October 21st, 2009

    Do Your Entrepreneurial Skills Include Staying in Shape?

    Entrepreneurial skillsI recently read an article that referred to the Small Business Readiness Assessment offered online by the U.S. Small Business Administration, an independent agency of the U.S. federal government formed to assist and protect the interests of small business concerns. It’s interesting to see the SBA’s opinion on readiness criteria; it touches on a number of entrepreneurial skills, none of which were a big surprise – with one exception: the question physical health.

    After asking if you know that running your own business could mean working more than 12 hours a day, six days a week and maybe Sundays and holidays, the next question asks if you have the physical stamina to handle such a schedule. Good point. Really, the closer you are to ‘athletic’, the easier things will be. So, one of your entrepreneurial skill sets should center around how to stay in shape – by which I don’t mean packing a serious six-pack, but you should be able to get through a long day and still have a little energy left at the end of it.

    I know more than one person who quit because they were ‘tired.’ They just wanted to go back to being an employee. It was a big loss for them, although they did have a sense of relief to be ‘out from under.’

    You have to think of your body as a machine. You wouldn’t continue driving your car if it stalled every few blocks or days, you wouldn’t put dirty water into the gas tank, you wouldn’t let the brakes get so bad you had to replace the rotors. Treating a car like that means it’s going to give out – in the not too distant future. Even those most adept at entrepreneurial skills will have trouble achieving success if they can’t get their car out of the driveway. And the same will happen if they feel like they’re giving out by 3:00 in the afternoon.

    Being an entrepreneur is like running a race – prepare for it properly and there’s a good chance you’ll win.

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    Tuesday, October 20th, 2009

    When Economic Times are Tough, Achieving Success Depends on Marketing

    Achieving successThere are some things just about everyone seems to believe true despite evidence to the contrary: Vitamin A improves night vision. Not true. Humans catch warts by touching toads. Not true. Exposure to cold weather, perhaps with rain and wind, causes colds: Numerous studies – including sitting people on giant ice blocks in freezing rooms with high-powered wind machines blowing on them – have failed to prove that true. Thinking you can catch warts from toads isn’t a particularly dangerous misconception, but some of the incorrect ideas that abound in the world of business can easily stop someone from achieving success.

    One of the best examples is the concept that one should slow down their marketing efforts when the economy is in rough shape.

    Pinching pennies is a normal reaction when pennies are looking scarce in the future. But neither ‘normal’ nor ‘reaction’ has high standing in the world of the entrepreneur.

    Truthfully, people don’t actually stop buying things – they’re just a little more cautious and take a little more convincing. And with every merchant in the same boat, you can be sure a lot are going to be doing as much convincing as they can. The worst thing you can do is disappear into the woodwork and let the consumer forget about you while they’re wooed by the competition. What are your chances?

    ‘Proactive’ is an important watchword for achieving success in an economic downturn. Entrepreneurial skills must include learning how to market in any economic climate. Unless you’re a huge company with unlimited financial resources and a customer base that wouldn’t leave you if they had a gun pointed to their heads, you’re probably not going to make it otherwise.

    Shane Krider – Polaris Media Group

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    Monday, October 19th, 2009

    Unrelenting Drive is the Key to Achieving Success as an Entrepreneur

    Achieving successIt takes a special kind of person to look at their home office – which may be nothing but a desk top and a two by three foot computer station on wheels – and imagine a successful company springing from the loins of such humble beginnings. But some of the most impressive success stories started with exactly that kind of scenario. Achieving success isn’t a matter of space, time or money; the secret is the most organic of entrepreneurial ‘skills’ – maintaining an unrelenting drive.

    Look at Facebook – started in a college dorm not too long ago; it’s now worth $15 billion. Larry Page and Sergey Brin started Google in a garage.

    A friend whose start-up became very successful didn’t see his first order, or his first check, until he was completely broke, sharing a room in New York with his partner, and trying to figure out where his next loaf of bread and jar of peanut butter was going to come from. A few years later, long before the company reached its pinnacle, he sold his shares and didn’t work for five years – during which time he pursued and achieved some very important personal goals.

    Not easy going – but when it pays off, it really pays off. And best of all, it’s yours.

    There are lots of good ideas around – you’ve probably had at least ten in the last month. But achieving success with those ideas depends on your personal motivation, drive and persistence. So put on your Nikes and just do it!

    Shane Krider – Polaris Media Group

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